I. True or False (T or F):
( ) 1. A life-style frim is a entrepreneur pursuing for growth.
( ) 2. Relating from science(technology) to market can be done only by Government.
( ) 3. A loss orientation emphasizes the loss avoidance.
( ) 4. US Federal Governments are the good sources of new ideas.
( ) 5. A technological innovation means one with low quantity and high uniqueness.
( ) 6. A laboratory development is a development stage of product development process.
( ) 7. Sarbanes-Oxley Act(2002) is for protection of coprporation's insurances.
( ) 8. A business plan should be written by the entrepreneur.
( ) 9. The goals and objective are related to the time-period.
( ) 10. A business plan should include potential risks.
( ) 11. A cash flow is not included in a business paln.
( ) 12. A sole propriertorship is easy to be transferable.
( ) 13. A partnership is transferable without consent.
( ) 14. A corporation is hard to be transferable.
( ) 15. A corporation has a double tax burden without any tax benefit.
( ) 16. 'Western Auto' is a product franchising of auto parts.
( ) 17. 'Realtor' is a trade-name franchsing of services.
( ) 18. A Piggy Banking franchsing is a franchising of various brands products.
( ) 19. A self-analysis for buying business is to analyze his experiences.
( ) 20. A investigation for buying business is to investigate the value of business.
( ) 21. A evaluation for buying business is to evaluate the price of business.
( ) 22. A evaluation for buying business is to evlauate the income statement of business.
( ) 23. A bargaining zone is between buyer's lowest value and seller's maximum value.
( ) 24. A brainstorming allows no criticism but only one round.
( ) 25. A pilot production is the development stage of product development process.
( ) 26. An upsclae image is for goods with high quality and low price..
( ) 27. Franchising pays fees regularly dependening on sales.
II. Summarize:
1. Entrepreneur's decision-making characteristics:
2. Methods of obtaining new ideas:
3. Product cycle:
4. Patents:
5. Elements of business plan:
6. Differences among sole proprietorship, partnership, and corporation (only 3):
7. Benefits of franchising:
8. Steps for buying business:
9. Methods of evaluation of business to be bought:
10. Questions of investigation of business to be bought:
11. P's of 'Art of Deal':
12. Price/Quality strategies: